Safestore Self-Storage Reports Increased Profit in 2007
U.K. self-storage company Safestore Holdings reported a 21.7 percent rise in EBITDA before exceptional items for the year ended Oct. 31, 2007, Thompson Financial reported. Short-term gain revenue rose to £40.7 million from £33.5 million, while like-for-like revenue rose 14.1 percent to £72.6 million due to increases in occupancy, rates and ancillary revenue. The self-storage retailer, which opened its 100th store in June 2007, increased its occupancy by more than 200,000 square feet to 2.91 million square feet during the year. The company's property portfolio was valued at £583.7 million in October 2007, an increase of 24 percent from the previous year. Info: www.safestore.co.uk
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